Sunday, May 24, 2015

Economic News , Data and Views ( May 24 , 2015 ) - Greece Updates ( Yannis Varaofakis explains what happened at infamous Riga Summit - including recording the Summit / discusses state of play in creditor talks / leaving euro , Tsipras says problem in creditor talks lies with " Institutions " , Greece overall debt picture improves as debt now at 305 BN euros - but June 5th IMF payment still in doubt , ) .... Broader Europe ( Russia does not intend to write off Ukraine debt , Spain's Regional and Municipal Elections to be held today , Italy in focus , Negative rates / Big Banks / Derivatives / Global Bond Market growth over last 15 years - things to ponder very deeply )



Check the numbers in poll against pension cuts and mass layoffs !

According to reports, creditors are demanding further budget cuts worth 5 billion euros including pension cuts and mass lay-offs

I just translated 's Left Platform doc distributed in Central Committee, calling not to pay next IMF tranche.

Greek Enterprises: Prolonged Uncertainty Is Freezing Investments, Employment

FinMin said has covered 3/4 of the distance, institutions must cover the remaining 1/4 (via )


This is the official 4 cen gov. Gen gov debt is even lower close to €305 bln, as part of cen gov debt is held within gg bodies

Tsipras: "Our problem is that the EU & IMF cannot find common ground." (Sketch by Petroulakis )

will not make June IMF repayment: MinInterior Voutsis via

GR media report that 's Left Faction is asking from the govt *not* to pay the next tranche to the IMF if the "blackmail" continues.

Great debut by in on the migrant crisis on the Greek islands. With photos by

Listen to Varoufakis' response to the question at 1min50 - does not rule out leaving Eurozone

Varoufakis says investors should be prepared for the Eurozone to unravel if Greece is forced out

Broader Europe.....

not planning to restructure Ukrainian debt. 's 5yr default probability >94%.

Today’s elections – in figures. Polls opened this morning at 9am, and will close at 8pm. Results due at 10.30pm.

Head to this page to download the EL PAÍS widget, which will deliver the results of today's elections as they come in

Spain’s two-party system at play as voting gets underway at today’s municipal, regional polls

Negative rates pose corporate conundrum

: "roughly half (53 percent) of banks’ derivatives exposure(...)to other banks and security firms"

Big investment banks still "too big and too interconnected to be allowed to fail (...)"? ht

Over last 15 years, "global bond markets have grown from around $30 trillion in 2000 to nearly $90 trillion today"